Insider Selling: Atlassian Co. (NASDAQ:TEAM) President Sells 760 Shares of Stock

Atlassian Co. (NASDAQ:TEAM - Get Free Report) President Anutthara Bharadwaj sold 760 shares of Atlassian stock in a transaction that occurred on Tuesday, April 23rd. The shares were sold at an average price of $200.00, for a total value of $152,000.00. Following the transaction, the president now owns 161,850 shares of the company's stock, valued at $32,370,000. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link.

Anutthara Bharadwaj also recently made the following trade(s):

• On Friday, April 19th, Anutthara Bharadwaj sold 760 shares of Atlassian stock. The stock was sold at an average price of $193.63, for a total transaction of $147,158.80.
• On Friday, March 15th, Anutthara Bharadwaj sold 1,520 shares of Atlassian stock. The shares were sold at an average price of $201.05, for a total transaction of $305,596.00.
• On Tuesday, February 20th, Anutthara Bharadwaj sold 2,645 shares of Atlassian stock. The stock was sold at an average price of $204.40, for a total transaction of $540,638.00.
• On Wednesday, February 14th, Anutthara Bharadwaj sold 4,139 shares of Atlassian stock. The shares were sold at an average price of $212.87, for a total value of $881,068.93.

Atlassian Price Performance

Shares of NASDAQ:TEAM traded down $0.43 during midday trading on Wednesday, hitting $199.01. The company had a trading volume of 837,385 shares, compared to its average volume of 1,683,605. The business's 50-day simple moving average is $201.18 and its 200-day simple moving average is $206.81. The stock has a market cap of $51.62 billion, a price-to-earnings ratio of -133.56 and a beta of 0.63. The company has a debt-to-equity ratio of 1.04, a current ratio of 1.07 and a quick ratio of 1.07. Atlassian Co. has a twelve month low of $128.02 and a twelve month high of $258.69.

Atlassian (NASDAQ:TEAM - Get Free Report) last posted its quarterly earnings results on Thursday, February 1st. The technology company reported ($0.30) EPS for the quarter, missing the consensus estimate of ($0.06) by ($0.24). Atlassian had a negative return on equity of 34.56% and a negative net margin of 9.87%. The company had revenue of $1.06 billion for the quarter, compared to analysts' expectations of $1.02 billion. On average, research analysts predict that Atlassian Co. will post -0.4 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on TEAM. Citigroup reduced their price target on Atlassian from $280.00 to $265.00 and set a "buy" rating for the company in a report on Friday, April 12th. Wells Fargo & Company upped their target price on Atlassian from $275.00 to $285.00 and gave the stock an "overweight" rating in a research note on Wednesday, January 24th. Barclays raised shares of Atlassian from an "equal weight" rating to an "overweight" rating and lifted their price target for the company from $235.00 to $275.00 in a research note on Thursday, April 11th. William Blair reiterated an "outperform" rating on shares of Atlassian in a research report on Friday, February 2nd. Finally, The Goldman Sachs Group boosted their target price on shares of Atlassian from $188.00 to $215.00 and gave the stock a "neutral" rating in a research note on Friday, February 2nd. Ten investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, Atlassian presently has a consensus rating of "Hold" and a consensus price target of $224.25.

Institutional Trading of Atlassian

Several institutional investors have recently made changes to their positions in TEAM. Graypoint LLC raised its position in Atlassian by 2.4% in the fourth quarter. Graypoint LLC now owns 1,784 shares of the technology company's stock valued at $424,000 after purchasing an additional 42 shares during the period. Legacy Wealth Asset Management LLC lifted its position in Atlassian by 1.4% in the fourth quarter. Legacy Wealth Asset Management LLC now owns 3,095 shares of the technology company's stock valued at $736,000 after buying an additional 43 shares during the last quarter. Park National Corp OH boosted its stake in Atlassian by 3.5% during the fourth quarter. Park National Corp OH now owns 1,439 shares of the technology company's stock worth $342,000 after buying an additional 48 shares during the period. First Trust Direct Indexing L.P. increased its position in shares of Atlassian by 1.5% during the first quarter. First Trust Direct Indexing L.P. now owns 3,693 shares of the technology company's stock valued at $721,000 after acquiring an additional 55 shares during the last quarter. Finally, UMB Bank n.a. raised its stake in shares of Atlassian by 5.7% in the 4th quarter. UMB Bank n.a. now owns 1,041 shares of the technology company's stock valued at $248,000 after acquiring an additional 56 shares during the period. Hedge funds and other institutional investors own 93.03% of the company's stock.

About Atlassian

Atlassian Corporation, through its subsidiaries, designs, develops, licenses, and maintains various software products worldwide. Its product portfolio includes Jira Software and Jira Work Management, a project management system that connects technical and business teams so they can better plan, organize, track and manage their work and projects; Confluence, a connected workspace that organizes knowledge across all teams to move work forward; and Trello, a collaboration and organization product that captures and adds structure to fluid and fast-forming work for teams.

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